Unless otherwise agreed documents against which a draft is drawn are to be delivered to the drawee on acceptance of the draft if it is payable more than three days after presentment; otherwise, only on payment. (Acts 1965, No. 549, p. 811.)
When Documents Deliverable on Acceptance; When on Payment
Ala. Code § 7-2-514, under Performance.
Ala. Code § 7-2-514